Contrarian Indicator: My Perfect, 7-for-7 Forecasting Record Want to make a fortune? Don’t follow my advice. Do the opposite. In the interest of full disclosure, herewith are all the market calls I got wrong the last few years (in my defense, so did almost every other so-called “expert”): 1. Stocks: Prediction: ↓ Actual: ↑ Explanation:...Read More
$3 Gas (or Below) in the Twin Cities “The U.S. is funding both sides of the war on terrorism.” –Thomas Friedman, The NYT “Vuja de“: the distinct sense that somehow, something that just happened has never happened before. –George Carlin I saw it first at the St. Louis Park Costco Monday afternoon when I filled...Read More
Coming Soon: The Multi-Billion Company With One Employee “Facebook Enters $16 Billion Deal for WhatsApp.” —The New York Times (2/19/2014). Just because there aren’t any more gold rushes — like the one set off by James Marshall’s discovery of gold at Sutter’s Mill in California in 1848 — doesn’t mean there aren’t any more rushes for...Read More
Test your knowledge of local Twin Cities construction projects, and answer the following multiple choice question: What is going on at the northeast corner of Highway 7 and Louisiana Blvd. in St. Louis Park? A. Minnesota’s first site for hydraulic fracturing (also known as “fracking”); B. Prep work for the new Southwest light rail corridor;...Read More
Supply, Demand, and the Price of Electricity “Xcel Energy reported a 17 percent jump in earnings per share for the third quarter, but warned that electricity sales remain slack, and that it will seek a Minnesota rate increase.” —Star Tribune (10/26/2012). OK, so it’s been 30(!) years since I studied economics in college. And I...Read More
Hanging Sheet Rock for $90k a Year Is North Dakota’s energy-driven economic boom creating ripple effects in the Twin Cities? Specifically, in the Twin Cities labor market? It would appear that way. Anecdotally, I’m now hearing of Twin Cities contractors whose labor force is depleted because of the siren call coming from western North Dakota....Read More